Five Common Car Insurance Myths Debunked: Motor Quotes and Automotive Automobile Reviews

Five Common Car Insurance Myths Debunked

If you believe in these car insurance myths, you can suffer expensive losses. You will also have to deal with the headache of how to get yourself out of a situation you never expected to be in. Here are five common insurance myths and why they aren’t reality.

Car Insurance Myth #1

Many people believe that your car insurance company will pay to repair your car if it is damaged due to acts of God, vandalism, or is stolen. Unless you have comprehensive car insurance coverage, you are not covered from these events. The state minimum car insurance only covers the damage you cause someone else - not any of your own damage.

Car Insurance Myth #2

Some people believe that your car insurance policy will pay off your car note in its entirety if you total your vehicle. Unless you have gap insurance, you will owe the difference between your car insurance proceeds and the loan balance. The insurance company will not consider your loan balance when determining your payout.

Car Insurance Myth #3

Some people think that the color of your vehicle is considered when setting your car insurance premiums. Your car insurance premiums are determined by your driving record, credit history, and the make, model, and year of your car, and your desired coverage. Color is not a factor in determining car insurance rates.

Car Insurance Myth #4

Most people think that a rental car benefit is automatically included in the cost of your premiums. This is not true. You usually have to elect rental car coverage. Even if your automobile insurance company covers the cost of a rental car, you will still be responsible to pay for any extra insurance you take out on the rental car.

Car Insurance Myth #5

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National Motorbike Insuring Requirement

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Five Common Car Insurance Myths Debunked

Category Automotive Automobile Reviews

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